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. moving us away from mistakes of the past and protected inlet and tax payers in the process. with this in mind, i look forward to hearing the testimony of mr. demarco. thank you. >> we now welcome mr. demarco is her sole witness in 2009 president obama designated mr. demarco as acting director of the finance agency, regulator fannie mae, freddie mac and the 12 federal thanks. mr. demarco is a civil servant with over 20 years of housing how was the experience, including stints at gao, treasury and au fait o. he holds both a ba and a phd in economics. without objection, mr. demarco's full written statement will be made part of the record after his oral remarks. members are advised that mr. demarco will be excused as her witness at 12:30 today. welcome to our committee again. you are recognized for a summary of your testimony at this time. >> thank you, mr. chairman. chairman has to latecomer it could number waters, and please to be here to testify. i submitted a detailed statement of work to engage in activist is the two essays on important topics discussed. fannie mae and fre
janet be well and she's not perfect. tell her i said that. during my time in public life and been a tax auditor, tax commissioner, said this is an area on how difficult it is and how difficult it is to make up every day and whether you're primary mission is to protect people. we are held accountable for how we do it and we are in a time of tight budget questions. when we have 10 years or we aren't able to pass audit, it gets increasingly difficult to justify to the american public that we are doing the right thing here. i'm new to this and i can tell you i sat through 10 hearings like this on a gao audited a tougher. i want to give you an example of why the american public is frustrated. recently in north dakota you guys remixed three full-body scanners to move to other locations to replace scanners that she had to replace because they did not pass privacy measures. by now, north dakota is a place of great economic growth. in fact, their airport is experiencing a 49% increase in passengers. we have more airlines flying in there. the airport is understaffed, yet you remove the scanner ca
that have hit show by and large the elevation requirements boozers housing tax base and host of people to return after the storm. does not go to the level of those destroyed causing not only lots of the home of the tax base. >> what about the ability to access insurance or cost of insurance. >> if you're not elevated above the flood on the latest reauthorization of the national flood insurance program going to an actuarial base rate if they will build one put up a bit look at a discounted rate showing the reduced risk. moving forward to smart actuarially sound basis is going to price many people to the point have to make hard decisions about elevation are not being able to rebuild based upon insurance rates. >> do you have any estimate so far of how much the cost of the disaster is borne by private insurance versus state governments versus federal government? do you have some breakdown on that? >> given about flood damage will be federal and commercial industry has not chosen to a flood insurance for homeowners peer preponderance is borne by the taxpayer and the flood insurance program
to redress for military victims they have less tax action to justice. >> with the two victims that change the culture in the military? >> there are likely to get more justice in the system that is why it functions. but in the news and mainstream news with the civilian criminal justice system cannot give her justice. >> had to change a culture in the military? >> one piece but that panetta news last month only one specialty is far as reid no. but that goes hand-in-hand with sexual harassment and sexual assaults. >> to report your case how would that have changed how your case was handled and would it have shown? >> five lead had to reach back 20 years but. >> said in my case i presented the documentation necessary to move forward and they did not do anything. to have something come up so we could move forward but ultimately i would have been forced out or scared for my life. >> i am not sure if i would do much different a. so not this year but last year but the budget for everyone to go through the independent prosecutor cited challenges changing in the culture within the military how wome
in excess of what we are bringing in in terms of dedicated revenue to the payroll tax. the unfunded liability of social security is $20.5 trillion. for medicare the unfunded liability is $42.8 trillion. these programs must be reformed so they are saved for future generations. again, i would hope everybody would support -- the presiding officer: the senator's time has expired. mr. johnson: -- any budget that does not have 57 year solvency. the presiding officer: the senator from washington. mrs. murray: social security and medicaid played a critical role in providing a foundation of financial security and health care for hundreds of millions of americans over the decades. democrats are committed to preserving and protecting them. when analyzing the solvency of these programs, it must be over more than just a ten-year budget window. we measure them over a 75-year window. this amendment, however, does nothing to protect the integrity of the medicare and social security trust funds tanned does not do anything to improve the solvency of them. we should have a debate about the solvency of
Search Results 0 to 4 of about 5